Bromford secures £127 million investment

Housing association Bromford has secured two new sustainability-linked revolving credit facilities with two UK banks worth £127m.
The Gloucestershire-based company will use the investment to finance its ongoing investment in new and existing homes and deliver on its sustainability objectives. The Tewkesbury landlord, which owns 46,000 hones across the West Midlands and West of England, has finalised five-year funding deals for £75m with Lloyds Bank and £52m with Barclays.
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Both deals are tied to Bromford reducing its Scope 1, 2 and 3 carbon emissions by 2028. In its most recent trading update on September 30 2023, Bromford paused on the reporting of its carbon emissions as it “recognised challenges” in its data and “the importance …